Lowe and Henderson Park Embark on Office-to-Residential Transformation in DC
Deal News | Jun 13, 2025 | Lowe Enterprises Investors LLC
Henderson Park and Lowe Enterprises Investors LLC have embarked on a joint venture to convert an existing office building at 1250 Maryland Avenue SW in Washington DC into a residential apartment complex. The project, approved and financed by early 2024, will transform the eight-story office space into an 11-story contemporary apartment building featuring 428 rental apartments, retail space, and parking. The redevelopment includes vertical expansion and a new façade to modernize the structure, highlighting adaptive reuse in urban real estate.
Sectors
- Real Estate
- Private Equity
Geography
- United States – The conversion project is taking place in Washington, DC, within the United States.
Industry
- Real Estate – This project involves the conversion of an existing office building into residential apartments, a common strategy in real estate development and urban planning.
- Private Equity – Henderson Park, as a private equity real estate firm, is spearheading this conversion in collaboration with Lowe, highlighting investment trends in property redevelopment.
Financials
- Closed – Both companies have secured construction financing for the project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Henderson Park | Bidding Company | Company | An international private equity real estate firm involved in this office-to-residential conversion project. |
| Lowe Enterprises Investors LLC | Bidding Company | Company | A national real estate investor, developer, and manager collaborating on this conversion project. |